The article is correct!!! If they decide to implement the new calculation the new dinar rate will be 1.16. The present rate is 1166.00. If they lop or delete 3 zeros the new rate will be 1.16. However your head line is misleading. The article did not state that 1 IQD:1.16 dollars. It stated the exchange rate of the dinar against the dollar as 1.16 or 1.16 IQD : 1 dollar.